Word: keynesism
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Sir: Your characterization of my belief that only price and wage controls will reconcile decently high employment with reasonably stable prices as the "voice of despair" [Dec. 14] is just a shade reminiscent of the bad, old, tendentious TIME. I've long felt that the age of Keynes is...
THAT answer would draw an F in just about any class in economic theory, and it could yet earn Richard Nixon an F from the voters. It flies in the face of just about everything that economists have believed, but it describes a grim fact of life in the U.S...
Kelso, 56, a highly successful San Francisco corporate lawyer, author and sometime economist, insists that economic ideologists as diverse as Karl Marx and John Maynard Keynes have been wrong. They have overstressed one factor-the role of labor-in the production of industrial wealth. Kelso holds that "the second factor...
Throughout history, dissent has been more effectively expressed by the word than by the weapon. The French Revolution was betrayed by the ruthless masters of the Terror THOMAS PAINE who silenced all opposition with the guillotine. The enduring importance of the revolution lies, rather, in the principles enunciated on its...
One consequence, in Friedman's view, was that John Maynard Keynes concluded that monetary policy had only a limited impact on economic trends. That led him to underrate the money supply as an economic regulator. Friedman maintains that Keynesian economists made the same error for decades afterward?and indeed, that...